The problems in Australia aren’t Vodafone’s only ones. The UK-based company is tackling seven quarters of shrinking service sales, even though the revenue it generates from calling and data plans recorded a 19 billion-pound (A$34.6 billion) network-improvement program, its largest ever.
Vodafone said it would post earnings down by as much as 11 percent amid price wars in its biggest markets – and a multibillion-pound spending plan to reverse revenue declines in some markets.
The shares fell as much as 5.9 percent after Voda said EBITDA in the year ending March 2015 will probably fall to a range of 11.4 billion pounds (A$20.7 billion) to 11.9 billion pounds.
Vodafone said it wrote down 6.6 billion pounds last year on the value of its businesses in its biggest market, Germany, as well as in Spain, Portugal, the Czech Republic and Romania.